in our Spotlight on Business Report new jersey-based pharmaceutical company Merck is suing the U.S government claiming a new Medicare drug price negotiation program is unconstitutional the complaint seeks to block the program which is part of the inflation reduction act arguing drug makers will be forced to negotiate prices at below Market rates calling it tantamount to extortion Americans pay more for medicine than any other country the Biden administration's reform is aiming to save about 25 billion dollars a year by 2031 through price negotiations for Medicare A Move the pharmaceutical industry says will cut their profits and force them to pull back on developing new groundbreaking treatments the timing is key though the federal government is slated to release a list of its 10 most costly drugs up for Price negotiations by September 1st support for the business report provided by Newark Alliance presenting the brown Mill anniversary block party and Halsey Fest an outdoor Festival on June 24th in downtown Newark online at halseyfest.com [Music] [Music]